The specter of Ronald Reagan has unsettled Donald Trump, and it's not just his ghostly presence that's rattling the president - it's the policies he espoused during his presidency that are biting back with deadly accuracy. A TV ad featuring excerpts from a 1987 radio talk by President Reagan on the dangers of trade wars recently aired during the first game of the World Series, and Trump was quick to react, labeling it "a serious misrepresentation of the facts" and ordering an additional 10% tariff on Canada.
However, what's truly unsettling for Trump is that his attempt to impose tariffs on Canada without congressional approval has been exposed as a thinly veiled attempt to usurp power under the guise of national security. The courts have already ruled against him twice, with the US Court of International Trade finding most of his tariffs to be "contrary to law," and the appeals court affirming that tariffs are a core Congressional power.
Trump's desperation to impose his will on the Supreme Court is evident in his decision to attend oral arguments in person, where he could potentially intimidate the justices into ruling in his favor. But Reagan's policies were built on a foundation of pragmatism and understanding of international trade, which Trump has consistently demonstrated a lack of grasp.
The consequences of Trump's tariffs are already being felt, with consumers facing an average effective tariff rate of 17.9%, the highest since 1934, and small businesses anticipating higher costs due to these tariffs. The Organisation for Economic Co-operation and Development (OECD) projects that the US Gross Domestic Product growth rate will decline from 2.8% in 2024 to 1.5% in 2026 - a decline of nearly half.
Trump's relationship with Reagan was complicated, but one thing is clear: Reagan's warnings about the dangers of protectionism and trade wars have come back to haunt Trump. In an interview, Reagan once stated that "at first, when someone says 'Let's impose tariffs on foreign imports,' it looks like they're doing the patriotic thing by protecting American products and jobs... But high tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars."
Now, as Trump faces a potentially disastrous outcome in his tariff case, there are rumors that Wall Street firms such as Cantor Fitzgerald are positioning themselves to profit from the refunds if Trump loses, raising concerns about insider dealing.
However, what's truly unsettling for Trump is that his attempt to impose tariffs on Canada without congressional approval has been exposed as a thinly veiled attempt to usurp power under the guise of national security. The courts have already ruled against him twice, with the US Court of International Trade finding most of his tariffs to be "contrary to law," and the appeals court affirming that tariffs are a core Congressional power.
Trump's desperation to impose his will on the Supreme Court is evident in his decision to attend oral arguments in person, where he could potentially intimidate the justices into ruling in his favor. But Reagan's policies were built on a foundation of pragmatism and understanding of international trade, which Trump has consistently demonstrated a lack of grasp.
The consequences of Trump's tariffs are already being felt, with consumers facing an average effective tariff rate of 17.9%, the highest since 1934, and small businesses anticipating higher costs due to these tariffs. The Organisation for Economic Co-operation and Development (OECD) projects that the US Gross Domestic Product growth rate will decline from 2.8% in 2024 to 1.5% in 2026 - a decline of nearly half.
Trump's relationship with Reagan was complicated, but one thing is clear: Reagan's warnings about the dangers of protectionism and trade wars have come back to haunt Trump. In an interview, Reagan once stated that "at first, when someone says 'Let's impose tariffs on foreign imports,' it looks like they're doing the patriotic thing by protecting American products and jobs... But high tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars."
Now, as Trump faces a potentially disastrous outcome in his tariff case, there are rumors that Wall Street firms such as Cantor Fitzgerald are positioning themselves to profit from the refunds if Trump loses, raising concerns about insider dealing.
. Like, come on dude, you’re the one trying to start a trade war with Canada without even getting congressional approval 
. And now you're trying to intimidate the Supreme Court justices into doing your bidding? It's just not looking good for him 
.
? I mean, Reagan warned about the dangers of protectionism and trade wars back in 1987, and now look what’s happening 
. It's like he said something about high tariffs leading to retaliation and fierce trade wars... yeah, that’s exactly what’s happening right now 
.
. The OECD is projecting a decline in GDP growth rate from 2.8% to 1.5%, which is almost half 
. And Wall Street firms are basically positioning themselves to profit from refunds if Trump loses? That’s just shady, man 
.
. It's time for a change of heart, dude 
.
cant he just do his job without being so paranoid? and btw 17.9% effective tariff rate is crazy high 
cant we all just trade peacefully for once?
I'm saying, what's up with this guy? He's all like "I'm a big league trader" and then he goes ahead and imposes tariffs on Canada without even consulting Congress 
. Like, what's next? Imposing martial law without a vote? 
It's just not right.
. I mean, Trump is always going on about how great Reagan was, but when you actually look at his policies, they're all about pragmatism and understanding trade 
. Not like Trump's "America first" nonsense, which is just code for "I don't care what happens to the rest of the world as long as I get what I want" 
.
.
. Is that really so hard to understand? 
. The fact that he's trying to intimidate the Supreme Court justices is pretty concerning too... I guess you could say Trump is getting what's coming to him? 
It'll be interesting to see how this all plays out in the end.
. And what really gets my goat is that he's trying to intimidate the Supreme Court justices with his presence at oral arguments... it's like he's playing some kind of game of "King of the Mountain" 
.
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. what's even more unsettling is that trump thinks he can just ignore the constitution and impose his will through executive orders 
. newsflash, don't get too comfortable in your chair, you're not above the law 
.
... i mean, come on dude, you can't just impose tariffs without congress saying yes or no to it 
... the courts have ruled against him twice now and he's still trying to strong-arm the supreme court 
and consumers are getting stuck with an average effective tariff rate of 17.9% 
.